---
schema_version: "secwatch.filing_event.v1"
accession: "0001617640-25-000015"
form_type: "8-K"
ticker: "ZG"
cik: "0001617640"
company_name: "ZILLOW GROUP, INC."
filed_at: "2025-02-11T23:59:59+00:00"
generated_at: "2026-05-26T23:22:35.611075+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Zillow Q4 revenue $554M (+17% YoY), beat outlook; expects GAAP profitability in 2025

## Summary
- Q4 revenue $554M (+17% YoY), above guidance midpoint by $21M; full-year revenue $2.2B (+15% YoY).
- GAAP net loss $52M in Q4 vs $73M a year ago; full-year net loss $112M vs $158M.
- Adjusted EBITDA $112M (20% margin) in Q4, $498M (22% margin) for full year, up 200 bps.
- Mortgages revenue surged 86% to $41M in Q4; purchase loan origination +90% to $923M.
- Management projects positive GAAP net income in 2025, with a long-term path to $5B revenue and 45% EBITDA margin.

## SEC filing metadata
- accession: 0001617640-25-000015
- form_type: 8-K
- ticker: ZG
- cik: 0001617640
- company_name: ZILLOW GROUP, INC.
- filed_at: 2025-02-11T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1617640/000161764025000015/0001617640-25-000015-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1617640/000161764025000015/z-20250211.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001617640-25-000015
- JSON: https://secwatch.observer/filing/0001617640-25-000015.json
- Plain text: https://secwatch.observer/filing/0001617640-25-000015.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.